Answer:
d. Work in Process Dr. XXX
Manufacturing Overheads XXX
Explanation:
Work in process inventory is a current asset. A debit of current asset accounts increase their balance while a credit reduces it.
Manufacturing overheads refer to indirect costs. Examples would include such as gas electricity used in manufacturing process which represents an indirect cost.
In the given case, the journal entry would be:
Work in Process A/C Dr.
To Manufacturing Overheads
(Being application of manufacturing overheads recorded)
The entry means manufacturing costs i.e indirect costs have been used, transferred and added to cost of work in process.
Answer:
Firms use competitive or brand advertising when a product enters the growth phase of the product life cycle and other companies begin to enter the market place.
Answer:
b. conflict of interest
Explanation:
Conflict of interest is the situation which arises when a person or an organization starts to possess an interest in multiple things.. Such conflict arises primarily in the financial or economic background. Such type of conflict gives rise to a situation in which the individual or organization's interest may affect the duty of adversely. The decisions are made to benefit the third party. In the above situation, Derek is in the situation of conflict of interest.
<span>Capitalism
This is a market economy in which the belief system is in light of private responsibility for methods for creation and their operation for benefit. Qualities fundamental to this system incorporate private property, capital aggregation.</span>
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